SFCL WMSME (IFC-40668)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 28, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Senkadagala Finance PLC
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 8, 2019

Disclosed by Bank Jan 25, 2018


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Project Description

The project comprises of a senior loan of up to US$ 15 million to Senkadagala Finance PLC (SFCL), a licensed finance company in Sri Lanka and an IFC client since 2014. This will be IFC’s first intervention in Sri Lanka targeted exclusively at women entrepreneurs to increase female participation in the economy. The 5-year senior loan will support SFCL’s lending to women entrepreneurs (micro and SME customers) and the expansion of its branch network in tier II cities in Sri Lanka. Further this would be the first local currency funding by IFC in Sri Lanka.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Senkadagala Finance PLC (SFCL) is a licensed finance company in Sri Lanka and an IFC client since 2014. SFCL is listed in the Colombo Stock Exchange. As at September, 2017 the other shareholders owning more than 2% were: Hallsville Trading Group Inc 8.2%; Dr M. Balasuriya 5.8%; Dr. (Mrs.) G. Madan Mohan 5.8%; Mr R. Balasuriya 5.8%; Dr. A. Balasuriya & Mr. D. Balasuriya 2.9%; Dr. A. Balasuriya & Mr. S. Balasuriya 2.9%; Mr. L. Balasuriya & Mr. S. K. Balasuriya 2.9%; and Mr. L. Balasuriya & Ms. A. S. Balasuriya 2.9%.

Contact Information

PROJECT CONTACTS

Senkadagala Finance PLC 
Mr. Shanker Supramaniam 
Chief Manager Treasury 
+94112301301 
shanker@senfin.com 
2nd Floor, 267, Galle Road, Colombo 3, Sri Lanka 
www.senfin.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/